KT
Appearances
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
The present mortgage rate is 3.5% with a balance of $116,000. The home was built in 1986. It's presently worth about $270,000. Susie, I would like to do some renovations and I've been thinking about using the equity to acquire upfront cash. A 30-year refinance loan, especially with rates in excess of 7%, is out of the question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
What would you suggest as an alternative to acquire cash without losing my current rate of 3.5%? Here's the scoop, girlfriend.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
This question's from Ed. He writes, I'll keep it short. I'm 51. I have $10,000 in a bank account. Would Susie suggest investing it in a low-cost brokerage account or using it to pay the taxes on converting some of my somewhat hefty balance, $600,000, in a traditional 403b to a Roth 403b? Now, Susie, remember, Ed's 51.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
I have my answer. That was quick. I can't wait to hear this. All right. So her expenses right now, including daycare with the baby, is about $9,500 a month. Let's say those bonuses don't really come to fruition as much as we want them to. So you're estimating $15,000 a month of income. Yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
All right, all right, all right. So let me just get to my point.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Okay, so let me just get to the point here. I would wait a little bit before I had the baby, and I'll tell you why. I think if you have a little bit of a... I would put another bucket in your list here called Baby Fund. I would build a little more of a cushion just for the what-ifs of having a baby, and I would eliminate the most important thing you put in this email, which is the word stress.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
You cannot get pregnant and enjoy nine months before your little tiny human arrives and have any stress. So just wait maybe two years if you can. Again, we don't know how old you are, but if you could wait two years, you could probably acquire a great deal of money in just a baby fund. So that's your answer. That's my answer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
People first.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
So next question, another man, Mike. I love when we get all these mixed up questions.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Because it's the Women and Money podcast, but I love when men come on.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
No, they're not mixed up. They're listening. Yeah. So Mike says, I'm 61 years old and my wife is 59. We are fortunate to have about $6 million in retirement savings currently. Good for them. Good for them, right, Susie?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
So Mike is saying that he and his wife are very, very fortunate and they plan on working until they're 62. So he's 61, she's 59, perhaps late and continue to work. My question is regarding RMDs. Have you done an episode or do you plan on doing an episode on what type of planning you should do three years prior to retirement? I find it all a bit confusing. I'm not sure how to prepare.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
If not, can you direct me to some resources on RMDs? I love you, Susie. I love your podcast and the community. That's from Mike. We love you too, Mike.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Because I can't remember what they did in December 2022. 22. How do you remember all these dates? Oh, my God. She's a genius.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
You don't like RMDs.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
What were you thinking? I was not thinking. All right. All right. I love this question. Susie, this is a need or a want question. All right, girlfriend. It's from Eric. Curious on your thoughts, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Yeah, I picked a lot of guys. Susie, curious on your thoughts on investing in art and wine, both solo and- Of course you picked this one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
And actively managed with a company or through an app. So Eric's asking your thoughts on investing in art and wine. I love this question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Yes, yes, yes. However, I'm going to answer if you can afford it, because if this is a need or a want, it's really a want. And if you can afford to invest in art and wine, boyfriend Susie would say do it. However- But you don't know I would say that. All right. So KT would say, boyfriend, do it. Now wait, KT has another bit of advice.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
I'd be very careful in who I invested with in terms of a company or an app. I think it's really important that maybe you start some direct investing, either with a small gallery that you know, or with the wineries themselves. Every great winery here, just here in our own country in California, has fabulous programs. Investigate what you want to do before your investments.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Yes, we do. Susie doesn't drink, by the way, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
It went into a fabulous fine glass.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Start with the wine.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Come on, KT. I was very, very good friends with Andy Warhol, everybody. And tell them what you passed up. And I remember... And I was young. I was a young art director in New York at the time. And I remember... And Andy loved me. He would take... Everybody loves you, Katie. He'd take me to Studio 54 and all those great night spots in New York. So...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Anyway, I remember one day we were in his factory in New York City and and he was doing all these silk screens of Chairman Mao and different portraits, his famous portraits. And he asked me if I wanted one. I said, how much is it? He said, for you, three hundred fifty dollars. $350, everybody. And what did you say, Katie? I said, well, let me think about it. Maybe I'll get one next month or so.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
I didn't think at all about it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
No, no, no, no. I could afford it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Why? Because I thought I could just do this anytime. We're friends. Now just tell everybody what that sells for today. Okay. I don't really know the exact price of his prints today. How many millions?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
He had the Marilyn Monroe. He had quite a few famous, great, great portraits. That you could have had. Grace Kelly. Grace Kelly was a beautiful one. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
Right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Revisiting Can I Afford to Have a Baby?
All right. Next question. Let's get into my questions. I have a mountain of questions. Hi, Susie. Let me start by acknowledging you as a trailblazer and beacon of light for all of us women who who want to take charge of our lives and finances. Thank you. And this is from Darshase. She said, I am a recently widowed retired veteran spouse. Equity in the home that we purchased in 2005 has doubled.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Okay, so next question is from Scott. He said, my husband works for IBEW. I picked this because I like IBEW. It's the International Brotherhood of Electrical Workers.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
And my grandpa. They were all electricians. The union provides legal service benefits, and they're in the process of preparing a will. Susie, I know you are pro-revocable trust, but one of the advisors said that a law was passed last year that we can do a transfer on death deed with our home without to our two children instead.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Not a lot, though. Well, my first question is kind of funny because it references your nasally voice. You sound a lot better. But you have to say, this is the KT and Susie edition, right? Oh, hey everybody, this is the KT and Susie edition. Do any of you think she'll ever get this? No, this is the Ask Susie Anything, and KT will ask the question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Can you please tell me the pros and cons of both so I can make a better informed decision?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Okay. Okay. Next is from KP. She said, Susie, I'm retiring later this year. Me and my 90 year old mom want to move out of state to be closer to my daughter. We plan to live together in our new home. We're trying to figure out who should pay for our new home and how to hold the title. I currently own my home outright and would like to use it as a rental when we move.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
My mom is very financially secure, has enough extra cash to easily purchase our new home outright. I am her only living child and sole beneficiary. My question, would it make more sense for her to buy our new home in trust so that I would inherit it when she passes? Should she give me the funds or some of the funds so I can purchase the house in my own name?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Or should I just sell my current home and buy our new home myself? I don't want a mortgage and the only way I can pay for our new home outright is if I sell my current home. My current house will rent for about $4,000 a month. Please help. KP sounds like she and her mom absolutely love each other. And what I think that you need to do is help her decide what's the best way to do this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Yeah, plus being a landlord out of state could be a little tricky. Yeah. Complicated. Unless she has good tenants, all right. Okay, so next question's from Monina. I like that name, Monina. You like every name. No, this is a great name, Monina. It's me again. It's Monina again. I've written to you before and you actually replied to my email about paying off my mortgage with my savings.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I do answer you personally every once in a while. She said, I followed your advice and my home condos paid off. I am proud of that, but I'm a little anxious about my savings. I'm slowly building my emergency fund currently at six months, working towards 12 or more.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
What is a person to do next once you've funded your revocable living trust, maxed your 401k Roth contribution, received the max matching from my employer, built your emergency fund and carry no debt, but want to continue to maximize my retirement fund? Do I just wait till I'm 59 and a half years old to convert? Is there no way around the pro rata rule? I've enjoyed your Roth quizzy Sunday so much.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
So there you go, Monina. Monina, listen to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Oh, let's tell them about our new fun YouTube channel. Susie's been having so much fun, everybody. So Susie and Amy, her executive producer of Donkey's Years at the CNBC Susie Orman Show, have gotten together and they collaborated and created the most fun, can I afford it, game on YouTube on Susie's channel.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Okay. Last question, Suzy, from Kristen. Dear Suzy and KT, thank you for everything you do. I'm trying to build out- Great. Especially when they really, really love my contribution. Of course. Of course. What was wrong with me? Of course. All right. Thank you for everything you do. I'm trying to build out a piece of my portfolio that is focused solely on dividends.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
with the hope of covering my main living expenses at some point. This is why I picked this one. My friend sent me an article about aristocrat and king stocks. I don't have a clue what those are, Susie. That's why I picked this question. I am unsure of where to start. Would you focus on dividend aristocrat or king stocks? There are also dividend aristocrat ETFs. So there you go. She's 42.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
She has one year of emergency savings, no debt, and $350,000 in retirement accounts. So tell me what aristocrat and king stocks are.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Anyway.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I did. Yeah, I got them right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
The URL is go to youtube.com slash Suzy Orman. Ding, ding, ding, ding, ding, ding, ding, ding, ding. Because I love playing those games. They're fun. It's a fun thing. Yeah. Tell us if you like them. They're fun.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
People first, then money, then things.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Yeah, tell us if you like it, and we'll keep doing it. It's great.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
All right. Are we ready? So my first question is from William, and he said, Susie, I loved hearing you get sassy with KT with that nasally voice of yours. Hope you're feeling better. And he's asking a question about the pro rata rule. He said, you've talked about it a few times. I've gone back and listened to old episodes. I try to track down an answer and I'm still so confused.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
And he said, I think Susie, I made a big mistake. I wanted to consolidate some old 401ks in 2024 and decided I would be better off managing the money myself in a Fidelity account. So he combined a Roth IRA and a rollover IRA separately. It was a mixture of Roth and non-Roth contributions. End of the day, he said, now, of course, I want to do a backdoor Roth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I don't think it's possible because of the pro rata rule. Wait, I'm very confused. Yeah, he is too. Take a look. I want her to read it, everybody, because he is confused.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Should he KT? I don't think he can.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
This is your quizzy right off the bat. No, he's going to have to pay taxes. Do you know how much in taxes? No, I think for the one, no, I don't.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
No.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Tell everyone what I'm doing.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Tell everyone, I'm sitting here, what am I doing, Susie? My head's spinning.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
She says, just that simple. For you, it's just that simple, but not for the rest of us. Well, here's your quizzy again. Oh, my goodness.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I don't have a clue.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I don't have a clue. Well, I don't have a clue.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I would say the amounts would be the maximum that I'm allowed to put in.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
And if you're over that age?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Just that simple. Okay, next is from Amanda. Hi, Susie. I'm 53 with $250,000 at this point. Since it's losing money daily in a Roth and IRA, would now be the time to move the money to cash? Then she says, I really can't afford to take much more of a hit. Do I ride it out? Okay, next is from Amanda. She said, I know one thing, Susie, you always say, don't let fear make rash decisions.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
So she's asking you, should she write it out? Edward Jones, by the way, is her portfolio manager. And they keep telling her they're in good Fortune 500 companies. But if you read the whole thing, she's scared. She's full of fear. And I think she should put it in cash and forget about it for a while.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
What makes you sleep at night.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Okay, my next question is from Leslie. Love listening to the podcast and learning from you. A few weeks ago, you reminded us that you can take out what you have contributed to a Roth IRA tax-free and without penalty. I'm a 37- I hear it coming now. I hear it coming. She wants to take it out. Go on. No, no, no. She's really smart.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
I am a 37-year-old mom of two little ones, and I'm going to need a new car soon. Now, this is important. She needs the car sometime within the next five years. She's trying to stretch it. I'd like to purchase my vehicles in full to avoid paying more in interest. I plan on starting to squirrel away the money in a separate file with my H-Y-S, high yield savings account.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
But if I can't save the entire amount before I need a new car, would you recommend using money from our savings? We have $20,000 plus 10 in an emergency. To do this or from the Roth, which she has 124K. I can answer this. All right, quizzy, quizzy. You don't touch the Roth. And do what? Oh, I don't know what to say. Out of these two choices, Katie says, don't go near the Roth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
Don't touch that Roth.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
And stretch that car. Our car is how old, Susie? Going on 13 years. Yeah. So Susie, my next question. Hi, KT and Susie. I love you both so much. I've been a faithful listener and fan before Susie was even on TV. Whoa, Susan's old. Actually, she is old. I said, thank you, thank you, thank you, Susie, for everything you've taught me. And thank you for your joviality and sweet support, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
So the question is this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
When does it make sense to drop a long-term care policy? I can answer this one too. I am four years into paying for it, but I'm now worth $1.4 million, and I'm wondering if it's time for me to start investing the premium dollars myself and plan to self-fund. Ready? Okay. She's 60 years old, excellent health, no partner or living children.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do You Know The Difference Between Aristocrat and King Stocks?
She owns her own home outright, no debt, stable employment, and stable side hustle. This is from Susan.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Upon recovering the $4,000 loss, what is the next best step? Please show some pity on this fool. Sincerely, Mr. T.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
You're brave to give Ms. Orman an insurance question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Wait, when you say Blinking KT, that sounds like, you know, you're beeping or blinking me out as a swear word or something. doesn't it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Okay. Next question is from Karen. Hi, Susie and KT. You guys are so wonderful. Yes, we are. So wonderful. We've learned so much. She's still blinking. No, I'm not.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
We have a very important decision to make. My husband has a good chance of losing his job due to the government cutbacks. You and like 20,000 other people.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Sorry, Karen, to hear this. He is 65. I am 66 and a half. We are considering pulling out of our savings to pay the house off. My question is, is this the right thing to do? So, does it say how much she still owes on her house? Mortgage balance is $80,000. All right, not bad.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Why? It's not $80,000. Pay it off. Own your home outright. All right, go ahead.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
A little speedy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Katie, you're either right or wrong. I was partially wrong. Partially right. You were wrong. Colleen. You were wrong. Hello, Susie. You were wrong. You were wrong. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Stop. Just say it. Okay. I was wrong. I was almost right. I was wrong, but close to being. Well, you, oh God, she's getting to me today. Everybody go on. Next question is from Colleen. Hello, Susie. I have a term life insurance policy for $150,000. Ready for this? I've had it for 20 years. That's not unusual, Katie. No, but that's a long time.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
So this is the question. Is this normal? What can I do to keep it or at least get some of my money back? Well, that's not normal, is it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Unleash The Beast
Wait, congratulations, Susie. I want to congratulate you. On what, Katie? On your last New York Times bestseller is now out in paperback. The Retirement Guide for 50 Plus for everybody, not just women and money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay, next question is from Sam, but I think this is a woman. Her name is Samia, and she signed it Sam. All right. In 2021, 2022, and 2023, a 30-year-old contributed to a Roth a total of $18,500. Yeah. In 2024... Ready? 30-year-old. He cashed out the Roth IRA and got $17,000. He has a loss of $1,500.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Being the distribution was made before five years and he's 30 years old, does he still have to pay a 10% penalty even though he has a loss? Does he have to pay any other things on the loss? Should that be your quizzy?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay, my next question, Susie, is from Natalie. What is more important, pay down debt or invest? Hard to know what my return will be on my investments. How do I know if I have the right balance? Do you want that to be your quizzie? Invest or, hold on. All right, I can make this my quizzie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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What's more important, paying down debt or invest? Personally, I would pay down my debt.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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That's a good one, right? I would pay. Susie hates debt. Yeah. I know that that's always going to be a winning.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah. Good, good, good job, Susie. Wait, it's completely updated. I mean, it's a really great, it's a nice size book too. It's easy to carry around. I like it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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That's it. This is the one that I thought was really scary about butchering. Can I read this one?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Did somebody butcher somebody? This should be our title. Ready? It says... Susie and KT, thank you for being you. Thank you for all the financial help you give ordinary people like me. I love Thursdays and Sundays. Ready? My ex-husband, who has a law degree, fell into an internet crypto scam whereby he lost everything known as pig butchering. Pig butchering, yes. I never heard that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Over $2 million in dividend-producing stocks, another $1.5 million in retirement accounts, and recently sold a fully paid-off home and is now living with his 82-year-old mother. He is only 56. My God, it's her ex-husband. Oh, my God. God, but Susie, I never heard this. Point is not everyone is aware of pig butchering. You reach so many people, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I thought you would be willing to do a comment on what this is. There's nothing more heartbreaking than losing your life savings because you think you're going to make fast money on crypto. How much you want to bet me?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I don't know.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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But I know that I agree with you. I'm glad she's not married.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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He was a player. He was a player. And that's what you keep saying about this cryptocurrency. If you're a player and you can afford to lose it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Reminds me of Bernie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I know. Susie was asked among so many of her friends. that were invested with Bernie Madoff, like, Susie, you got to get on board. And she kept saying, sorry, too good to be true for me. I remember her in New York saying that over and over again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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It came on sale on a Sunday, and I'll never forget Susie hearing the price and said to the island manager, buy it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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People first, then money, then things.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Bye, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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And if you're under 50, get it now so you know everything by the time you're 50.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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50, 60, 70.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Shake your head. I'm blinking and shaking at the same time, everybody. This is from Lydia. Hi, Susie and KT. Up to a few months ago, I was totally oblivious to my financial status. Although my husband asked me numerous times to get involved in our finances, my mantra was, as long as our bills are paid, I'm good.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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This changed when my husband came across your podcast and suggested I listen to a few episodes. At 61 years old, I was drawn in and I got hooked. See, Susie, they get hooked on you. Or do they get hooked on me? Can you just read? In just a few months, I became so much smarter when it came to our finances. I now ask questions about everything. Why we open certain accounts?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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What are the IDs and passwords? How are we funding the accounts? This also included speaking up when I didn't agree with a decision. In addition, I started sharing your wisdom with my daughter-in-law after hearing you say on one of your podcasts, who is teaching our young women to be smart with money?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Thank you both for unleashing the beast within me so that I can be that financially savvy woman I was meant to be. That's from Lydia. Isn't that great? So she doesn't have a question. I just had to share that with everyone.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay. This is from Joanna. Joanna said, Hi, Susan and Katie. I love listening to you both each week. And now that I am 62 and reorganizing my funds, I need to ask a question. If I invest in a dividend ETF, when the stocks within that ETF issue quarterly dividends, will I get some of that money or will it just go into the ETF itself as a gain?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Would I be better off buying individual stocks where I get paid their dividends directly? Please educate me as to how the disbursements work. Great question, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Next question, Susie, is from Jackie. I purchased the must have documents some years ago after seeing you, Susie, on PBS. Great show. I have yet to use them because I was scared. I am no longer scared. I live in Southern California, and after the fires, I decided I must get my affairs in order. So that's it. I'm doing it. Susie, can I still use the documents and the code? Is it still valid?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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As always, thank you for your honest financial guidance.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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All right, this next question is from Colleen. And Colleen, I first want to say that we send our condolences. She said, Susie, my husband passed away very unexpectedly recently. We have three young children. My husband had life insurance, and after his passing, I invested the majority of the payout with a financial advisor at Edward Jones. a family referral, as I had little investment knowledge.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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For all of you listening, I'm going to give you a real quick summary. $150,000 is in an advisory account, a million in a money market. She maxes out her 401k contributions every year, and she has a small Fidelity advisory account, less than $10,000 that she's kept to learn how to invest independently.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Susie, I've been dedicating a little time to learning about investments by listening to your podcast, and I want to make informed decisions about my financial future. The question is, should I keep my investments with a financial advisor or invest independently? And then I read on and she said, Colleen said she's still in deep grief about losing her husband.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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And she's worried about that if she does this, she'll be doing maybe the wrong thing. Yeah. She's also taking care of three young children.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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That's nice. So this next question is from Michelle. I know that under the Secure Act 2.0, SEP Roth IRAs are allowed. However, none of the major brokerage firms, Vanguard, Schwab, Fidelity, offer SEP Roth IRA accounts. Susie, do you know of any reputable firms that are offering it yet? I'd like to know that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I think I know the answer why they're not, they didn't do it yet. It takes, they're like slow pokes. It takes a long time for them to change. The system, the literature, the computer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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They should have done it at least online.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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All wise, Susie and Katie, I'm hoping you can provide some guidance. I love this is from Mr. T. Mr. T in Virginia says, I love this question. What did Mr. T do that was wrong?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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What did he do? 20 years ago, I was sold a variable adjusted life insurance product. I knew it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I knew that when it's all wise, it's like- I knew it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Luckily, it was a relatively small policy for $300,000. I don't think that's small.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah, but still. And cost around $80 a month. That's a big deal. That is. I now know this was a bad choice. Wait, Mr. T put that in bold all caps. The surrender value is nearly $15,000 and the cost basis is around $19,000. Is it best to move this to my primary financial institution, which is Fidelity, as a variable annuity until I recover the loss or some alternative?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay, I have a question from Scott. He said, Susie and KT, thanks for all the advice. I'll be 50 in June. He's a Gemini like you. Gemini, Scott.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
All right. Scott, you have a long way to go.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
Yes. Between your show and conversations with my mom, converting all of my pre-tax retirement accounts without 401k seems to be the best course to limit RMDs. So he said, I have about half a dozen traditional IRAs with recent and potential market corrections. Would you recommend converting as many as possible to Roths this year?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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All right. Next question. Why do you look at me like that? I didn't know if you were done.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
Let me think about it. Yes, you are. Okay. Because I have so many good questions.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
All right. Next question is from Gay. She said, I'm a retired New York City teacher with a 457B and a tax-deferred annuity. They have RMD rules that seem similar to those of traditional IRAs. And now she's asking, I also have a relatively small traditional IRA opened at the beginning of time. Can these three types of accounts be aggregated for the RMD so I can draw from the least lucrative one?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
I thought that was a good question because I don't know. Can you? Are you sure you don't know?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
If it's a quizzy, then I'm going to guess you absolutely cannot aggregate accounts like that. And why would you say that? Because they're all different. They're all different. Ding-a-ding-a-ding-a-ding-a. Yeah, see? She got that, right? But it's a good question. Right. People wonder.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
So Susie, next question is from Linda. She said, I am a teacher and will receive a pension. We love teachers, don't we, Susie? So much. So much. They're our favorite people. I'm a teacher, will receive a pension, but do not have enough Social Security credits to receive Social Security myself.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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My husband will receive Social Security. And I understand that I will be able to receive his social security benefit if he passes before me. But Susie, what about spousal benefit while we're both alive? He's 60. I am 59. We plan to wait until he was 70 to begin collecting his social. However, will I be eligible for spousal benefits while he is alive? If so, is there any benefit to having him start
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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to collect at 67 so we can both receive benefits earlier, or is it best to still wait to 70? You got to set her straight, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I don't even know why. I'll answer the questions for everyone.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah. I think that it's smart that they 68 and 67 go for it. Right. All right. 61,000 is a lot of money in two years. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I think so, but you should always double check. All right. Next question, Katie. Susie, my final question from Sheila. Hi, Susie. Thank you for the Roth info. I'm a little confused because I heard you say that if you have pre-tax money in any retirement account, then don't do a backdoor Roth. But we have 401ks and 403bs. So does that mean we shouldn't do a backdoor Roth?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Or were you just referring to IRAs with tax money? Now, I already answered that on this podcast, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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The answer is that- Were you just referring to IRAs? So she has 401Ks and 403Bs. Yeah. Were you just referring to IRAs? Yes, you were. Yes. You were referring only to IRAs. That's right. Good. So it wasn't no, it was yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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You did it, Susie. That's a wrap. And everyone, I want you to just remember three things. What are they? People first. God. Then money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
Okay. So I've got some great questions here. And this one says, hi, Susie and KT. I've been listening to you for a year and a half, and you have made me feel much more control of my situation. And this is from Michelle. She said, Susie, we bought our forever house in May, 2023. To be in a better school district, we went from a 2.5% interest rate to now having a 6% interest rate.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Our new house costs significantly more than the old one, so our mortgage payment has more than doubled. We did plan for this. All right, that's the key to this email, Susie. We did plan for this. We saved to comfortably staying afloat and figured we would be able to refinance in one to two years. My question for you is, at what point would we refinance when rates get to 5% or lower?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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What would make a difference?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
Next is from Pamela. And it's not a question, but it's something I want. It's a lesson. And Susie, you taught her this lesson. Ready? Hi, KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Me? Oh, my God. We don't have enough time and podcast for the rest of our life for me to answer that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
I don't want to talk about March 6th.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
So I left your Susie school on March 6th. Oh, that's fascinating.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
I'm going to go listen to that over and over again.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Go on. I loved your Susie school on March 6th. I only got one question wrong. So I was like showing off Pamela. Pamela got one question wrong. KT got like 50% wrong. now she said i also want to be honest you got you got i got like 70 percent wrong yeah you got three right out of 18 that's not true it is true it is not don't listen to everybody uh-huh
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
I also wanted you to know that when I was getting my taxes done a month ago, the CPA told me I couldn't withdraw from my contributions in my Roth IRA without a penalty. I've had my Roth IRA for 10 years. I will be 58 in June. I told him that is not true. I didn't want him doing my taxes, Susie. So I walked out the door. She left immediately. I'm so proud of her.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why I Quit My CPA
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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She said, I can't even take credit. I learned this all from you. I want to help my 28 year old son and 31 year old daughter with everything I've learned from you. Thank you so very much, Pamela. Oh, is that great? Yeah. She had the courage, everyone to get up. And walk out. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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The point of that whole experience is that you've got to really know and you can't just trust one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay. This is from- Wait. Aren't you proud of me? I didn't call him what I was going to say. He asked. Yes. Thank you. Especially with that nasally nose of yours. The next is from- Do I snore with it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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All right. The next question is from Deb Johnny. Don't you love that name? Deb Johnny.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Maybe. You never know. I just think it's a pretty name. She said, hi, Susie. I hope this is a quick one. I'm in my mid fifties. I've recently retired. I have about $3 million in assets. I'm single with no dependents. I have 650,000 in my 401k of which 500,000 is traditional. The rest is Roth.
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What do you think about using my traditional 401k balance to purchase a single premium immediate lifetime annuity to get some predictable income before I become eligible for Social Security? She's planning on taking that at 70%. I'll get about $2,800 per month, which will cover more than 50% of my monthly expenses.
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She's doing this, Susie, because she said that way she can let her brokerage account grow without starting to draw down too much. So, you know, what do you think about that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay. Next question is from Maria. She said, hi, Susie and KT. I've listened to your Sunday podcast on questions about Roth. This is another March 6th. It was so informative. Thank you so much. I want to ask if I could use my money in my savings account. after tax to transfer to an IRA and then convert it to a Roth through the back door.
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I already max out my Roth 401k at work, and I'm not qualified to fund my individual Roth because of my income. Is this possible?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Okay. Okay. Next is from Jodi. I never miss an episode of your podcast and I used to watch Can I Afford It as a family. Well, we have a little treat coming up for all of you. Just be patient. Well, my little girl has grown up and she's now 29 years old. Does that make us feel old? No. She wants to set up her first Roth IRA. She has $40,000 in a high interest savings to use to fund an IRA.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Susie, I don't know how to guide her. Is there a brokerage firm you recommend that doesn't charge many fees? What should she do? ETFs, mutual funds, question, question, question. Oh, wait. And then there's one more line here. It said, but like KT, Roth investing and I are like oil and water. Thanks, Jodi. You and I are from the same batch, oil and water. Slippery, huh?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Hi, everybody. Welcome to the Women & Money Podcast, and everyone's smart enough to listen. This is KT here, and I'm opening this on March 13th for Susie, who is in the studio with me, but she's still suffering from sinuses and who knows what else. Listen to this nose. Listen to her. Hello, hello.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I like that you do both. I like that. It's kind of like a win-win, you know, when you're not quite sure what her...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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So, Susie, it's still a special day today. What makes this day so special? You know why. I do know. Come on.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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So that's what I would do if I were her, but she has to decide. Our next question is from Renee. Hello, Susie and KT.
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I have a quick question. My father passed away last year. I'm helping my mother with her finances. I'm reading that the Securities Investor Protection Corporation, is that SIPC?
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And that's what you call it, SIPC. protects IRA and brokerage accounts up to $500,000. So for protection, it would seem that we should spread the money between at least two financial institutions. What is your opinion? Should that be your quizzy? Yeah, well, I'm just trying to figure out here how much money she has to separate it because she doesn't want to exceed the SIPC half a million dollar.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Right. Yeah, I think she doesn't really have to do that. I mean, she can do that, but you don't have to do that if you make the other one another beneficiary. No, that's for FDIC insurance. Okay, do it. Separate it. No. Don't separate it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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My account is a lot smaller than Susie's.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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Yeah, I actually did. I always thought I would be a multimillionaire. You did? Yeah, when I was very young. I don't know why. I always thought that I would. It wasn't something I strived to do as an artist. You know, you never, everyone calls it a starving artist, but I never did. I never did. I always thought, wow, I could do what I love and really be very successful and good at it. So I was.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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You never thought you'd be anything more than a waitress. That's right. Right? That's right. So you really lucked out.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And she will, too. Right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So from Judith, hi, ladies. Can you explain how I determine if capital gains applies when selling a stock if I keep value cost averaging to a position? We all learned about that last Sunday. I have an account with Fidelity and if I sell, it just asks a dollar amount, not which shares to sell by date. I understand I don't want to sell the shares I bought within a year to avoid ordinary income.
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Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Thank you so much. So what should Judy do?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
No, what is that method? FIFO. FIFO. Sounds like somebody's dog. What is it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So she was worried about that.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Next. All right. This is from Ray. Dear KT and Susie, quick question. I hope it's quick. I just realized we've been charged what's called a record-keeping fee for my husband's 401k. It's a non-raw. This account has roughly $360,000. Ready, Susie? This really makes me mad. And the fee was $152 for this month. $1,200 total last year. Is this high? They shouldn't even have to pay it, right?
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Eat ice cream. But leave some room for the chocolates because tomorrow is what, Susie? What is that? I'm kissing you. Tomorrow is Valentine's Day, and for any of you that don't have a valentine, I'm looking at one right here that has so much love to share. She's going to spread it all over the world tomorrow.
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Ask KT & Suze Anything: Why Am I Anxious About Retiring?
That's crazy. So wait, that's making her really mad, everybody. So tell Ray what to do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
How does Ray avoid that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
It's horrible they charge that much.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Okay, I have one more question. I really like this one. It's from Lori. Because I know we're over. So ready? This is a short question. I hear when it comes to the financial health of our economy, we look at the 10-year treasury. Susie, could you please explain this?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
But I want you to explain it to Lori because she also said she's been an avid fan of the podcast, learning so much and becoming more of an investor every day. I love that. Yeah, good for you, Lori. So answer her question. And then we'll give it a wrap. But I want her to have her question answered. Yeah.
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No, you gave me a quiz already. What was your quiz? You gave me one. Did you get it right? No, I didn't. Want to give me one and see if I get it right? No, we'll see. If you feel that way, I'll save this one. Do you want me to save it? Yeah, save it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, it's Valentine's Day tomorrow. I don't want a quizzy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
More than all the money in the world.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, but this is a money show. How unromantic. Not a science show. We'll see how unromantic I am tomorrow, everybody. Do you have something planned? Yes. You do? Yes. Really? Yes. You'll have to wait and see. Do I? No. How do you know? Because you just never do. I write you the most exquisite. Oh, well, that's different, but that's not something planned, like something we're going to do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Anyway, tomorrow's Valentine's Day, everybody, so have a sweet one.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
When you were a kid in school, did you make like little Valentine envelopes and they would pin them on the wall and everybody would bring Valentines and put them in? And like mine was always overflowing. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Did you do that when you were a kid?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
They didn't do that in your school?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
A little candy. The candies. Candy hearts.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, yeah. I'm not sure you did. I did. Women and Money podcast.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
All right, this is Thursday. They all know it's Ask KT Anything, and I'll ask Susie, and she'll answer it. Okay. God, here we go.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
My first question is from Benjamin. I like that name, Benjamin.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, that's how you say it in Spanish, Benjamin. Benjamin. So Benjamin said, Susie, my mom gave me the Young, Fabulous, and Broke book as a teenager. I am now 35. It was my first financial book ever, and that book changed my life forever. I am so grateful to you, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
And then he said, luckily, I found your podcast during the 2020 COVID crisis, and I've been looking forward to your new episodes every week, in addition to having the must-have documents, an Alliance savings account, and the Women in Money app. So Benjamin, you're getting a big applause. She wants you to be her Valentine. I I'm applauding you, good boy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So this is a little backstory and then a question. Benjamin said, my partner of six years and I eloped this past September 2024. We both have good jobs. I work in finance at the Mayo Clinic, and he is an ER doctor with a stable income. How should we go about combining our finances? I understand the percentage ratio based off income, but should we open a credit card together or a checking account?
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Ask KT & Suze Anything: Why Am I Anxious About Retiring?
So that's the first question. The second is should Taylor and I sign up for term life insurance if we don't plan to have children? We appreciate you so much. He didn't say Susie and Katie. Yeah. He said Susie and Katie, but I just said Susie cause you, you're the one that taught him everything. I love that you both eloped. I, We kind of did, right, Katie? No, we didn't elope.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
We just took advantage of a great opportunity when we got married. We had a day off, and we were in South Africa, and we learned at a luncheon that South Africa had no laws, rules, or objection to any kind of union. Yeah, there was no differentiation. Never.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Yeah, before it was legal in America.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
He and Taylor noticed that we have separate accounts. We even have separate credit cards. Yeah, we have separate everything. But I think what they are looking to do is to figure out the best way as a couple, as a family, a married family, to pay for things and use, you know, what they can say, he understands the percentage amount.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Okay, next is from Joanne. She said, Susie, thank you so much for your podcast. I'm a female, 57, who has had multiple sclerosis for over 30 years. I was 25 when I was diagnosed. I am a teacher on disability and I receive $3,000 a month. When my younger son turns 21, it will drop to $2,500 for the rest of my life. They still allow me to work with a limit to my earnings as a substitute teacher.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I don't have much in my 403B because I didn't contribute for years when I started subbing. Bottom line, any good advice from me and my family would be greatly appreciated. My husband has a good 401k that his company matches. We just bought our first home last year. Finally. God bless you both. And we're going to say right back at you, Joanne. God bless you too.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
All right. Okay, it seems like I'm on a retirement theme today. So Ellen asks, Hi, Susie, I'm retiring in July, and I'm finding myself quite anxious about it. People get scared when they retire, Susie. They get really nervous. So here's what she said. I had planned to take my pension in a lump sum, approximately $450,000, mainly because I feel it can grow much more than receiving it monthly.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
I believe it would be around $3,000 a month or slightly higher. Between that and my Social Security, I would hardly need to draw from my investments, except for large expenses. But I keep going back and forth. What should I do? I really appreciate all the advice you have given me all of these years. You are a blessing. Boy, Susie, you're getting a lot of blessings today.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Okay, what's your advice for Ellen? Here's the thing.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Why Am I Anxious About Retiring?
Hello, everybody. Welcome to the Women in Money podcast, and everyone's smart enough to listen on February 13th, featuring KT and Susie. What year? What year? What do you mean what year? Everyone knows it's 2025. There we go. We now know what year. All right. So we have an exciting, I mean, what a week so far. Super Bowl was unbelievable. Kind of.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
We are strong. We are wise.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
We will not apologize. We are here. We will thrive. Together we everything it takes. We are strong. We are wise.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: A Roth Quizzy For You
We are strong. We are wise.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right. Next is from Ashley. It's about a Roth. All right. So ready. Everywhere I go, I'm told.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm not ready.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm letting Susie answer this Roth question. All right, go on. But I'm not doing a quizzy. So here's what Ashley said. Put her foot down. She said, everywhere I go, I'm told I will have to pay penalties and possibly taxes if I withdraw contributions from a 403B Roth in before I am 59 and a half years of age. And if the account hasn't been open for at least five years.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So then she said, and I just tell them that Susie Orman says that you can take out contributions, only my post-tax contributions, not my employer's pre-tax contributions. at any time without penalties. Susie, am I wrong? Did I misunderstand you? Oh, you did misunderstand me. Oh, Ashley. All right, let Susie explain.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
KT.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Because why wouldn't I be? I don't know, actually. It's Thursday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
No, no, no, no, no. KT and Susie are always Thursday. Occasionally, I join you for Susie's school. However, Miss Travis. You're going to change it up?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
There you go.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay. We straightened her out.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
It should have. I would have. I would have never gotten it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay. This is from Beth. I like this one because it's so many of us are in the same boat here. As my dad's power of attorney for finances, I may soon need to decide which investments to redeem so he can receive the care he needs. He is 95 years old.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
He has a good daughter. Most of his assets are in mutual funds with only a small portion in an IRA. He does not have long-term care insurance. Number one, I'm guessing, should I use his regular investments first? But how do I decide which ones to use? The best performing, the worst performing. Number two, should I liquidate a sum of money now for easy access, a year's worth, more or less?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So Beth wants to do the right thing and ask you your advice.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah, I think because many people that we know are in this situation of taking care of elderly parents, the decisions and just the conversations are so awkward and difficult.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
No, this one is for Beth, too.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
They want me all the time.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay, you got me. You got me all the time. I'll do it Sunday, Thursday, and I won't charge overtime.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Susie, it's almost Valentine's Day. What are we going to do? I don't know. I was going to ask you, do you have anything special in mind?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right. Susie, next question is from Rachel. This kind of made me chuckle because the subject says fear and politics. I'm not going to do politics. I'm not making any comment. But obviously, Rachel said, Susie, I'm freaking out about all the political stuff. I'm worried about the money I have in the market. I'm worried about the money I have in the banks.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm worried they will invalidate my marriage. I'm worried about so many things right now, and I don't know how to feel okay about the future. Will the must-have documents cover me and my same-sex spouse if they overturn recognition of my marriage? So, you know, KT, she's asking two different questions there.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
What we have is acknowledged and recognized worldwide.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm done. I'm done. Do you have a quizzy? Of course I have a quizzy. All right, give me my quizzy. Wait, you're just done that quick?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Be there. So we are.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I hear it. That's why I keep looking at her. Don't bang your rings.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Now, ready? What's my quizzy?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
All right, KT. Okay, so here we go.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm ready with my answer. What is it? I think they absolutely should pay off the mortgage, but there's going to be some money left over, right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Coming in?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I think so.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Oh, you write in. But don't they know that by now? Do all of you listeners all the time? Okay, so the new listeners, here you go.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm trying to catch something special and I haven't been able to.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
A really nice tuna.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
No, lately I've been going out very, very early, but coming back midday. Or two or three or four. The tides are six hours, everybody, so you fish a tide. Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay, I picked this one because this one is a little bit, they don't agree with you, which is very rare. I'm not going to mention the name.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
No, I was asked, and it's a— Oh, so there's somebody who— It's a woman, and she said, please don't use my name.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yes, because she's embarrassed probably to disagree with the great Suze Orman, but here you go. I just use her name.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I'm being respectful, but I will tell everyone she's from Staten Island. All right, go on. Hi, Suzy and KT. Thank you for always having an interesting podcast. Regarding podcast number 644. Do you even know what that one was? I don't know.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
But if all of you are wondering why Ms. Staten Island disagreed, go to Podcast 644, have a listen, and then listen to this. I disagree with you about home ownership as a senior. So I wanted to say something. She's writing to us saying as a senior. Does she know that we're seniors, like really senior? Yeah. We're older than seniors. Yeah, we're older. What are we? What category are we?
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Senior plus? Señoritas. Oh, señoritas. Señorita. All right. As a senior, I would be terrified if I was a renter watching uncontrolled rents unpredictably go way up with the housing shortage.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And the cost for moving to a cheaper apartment is high. So folks are stuck, Susie. At the time, my partner and I bought a townhouse in Staten Island, New York in 1984. Are you kidding me?
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Are you just kidding me, Mrs. Staten Island? She's a senior. My rent for one bedroom was about to be raised to $400 in a nearby neighborhood. His in Brooklyn was around the same, maybe $450,000. So we would have wasted so much money in rent over the years. Yes, we've had big surprise maintenance costs, but at least it's not rent going to someone else's property. And this is in bold, everyone.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
And we can't be evicted, which is as close as one can get to security, right? You might disagree with that, Susie. And now, so Ms. Staten Island said, you suggest one might save a million dollars in Roth investments over 40 years. That implies one with known home ownership has unsecured money he can afford to lose. A million is barely a backup now for old age. In 40 years, it will be a pittance.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I don't know, a million dollars in 40 years, what would it really be, Susie?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
I remember you showed it to me.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay, this is from Marilyn, and the subject said, in the same boat as Juliana. Oh, so wait, let me remind everybody about Juliana.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
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I like this one. This is important. It said, Hi, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Hi, Susie. This past summer, you advised me when I went through a very ugly and contested divorce from a similar man. So her man or husband was similar to Juliana's. It was very hard emotionally and financially as it cost me $174,000 in legal fees. I am now on the other side and am in a much better place. I promise, Juliana, it will get better. And get a therapist.
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Ask KT & Suze Anything: When Is The Right Time To Self Insure?
So, Marilyn, thank you so much for being kind enough to take the time to send that in to Juliana.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Okay, next is from Suzanne. Good morning, Susie and KT. You mentioned last Sunday you will self-insure your home. You bet. Please teach us what to look at to know when it's right to self-insure. Thank you for everything you do. Now, Suzanne's from Texas, so she's interested, obviously, in self-insuring.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
In Florida.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah, 21. 21 years. 21, maybe going on 22 years.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: When Is The Right Time To Self Insure?
Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Well, you know, I was just thinking about the friend of ours that was in publishing who was not married, did not have children. And for her, the annuity made a great deal of sense. Remember?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
That worked out great for her.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Very individualized decisions. Yeah. Okay. Next from Maria. I love your podcast and look forward to listening every Sunday and Thursday. Thank you so much, Susie, for all the information and guidance you provide. So for 2024, due to my income, I cannot contribute to a Roth IRA.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
My question is, should I convert the traditional IRA immediately or the same day into a Roth IRA in order to avoid accruing interest that I would need to pay tax on? I've never done this before, so I'm not sure how the timing works.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay, this is from Jerry. She said, hi, Susie and KT, love the work you both do to help us all with all the cuts to government programs, potentially no taxes on Social Security and Social Security running out sooner than later. And that makes a lot of sense.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
All right, wait a minute. Calm down, calm down. I was wondering- Wait, look at me waving my arms. No, she's going crazy now. Anything we talk about with these government programs makes Susie a little hot under the collar. I was wondering if I should take mine at 67 instead of waiting until 70.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
We don't need the money right now, but would be better off to take it and put it into something safe in the event that Social Security runs out of money or gets drastically cut. Should I put it in CDs or high-yield savings or treasuries? What should she do? What about an alliance CD?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
This is from Clay. Hi, Susie and Katie. Did you do that because you like to play with clay? Maybe.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
A sculptor, and I've been trying to do a portrait of Susie for quite some time now.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
It's a bust, but it's a portrait I'm trying to do ahead of Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Anyway, go on. It's mostly a lot of hair right now, but I'll get there. I really want to get my daughter her own Roth IRA ASAP, but she's only three years old.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
already does enrolling her in a medical study count as earned income so just to give everyone a background the medical study is through her pediatrician and it involves simply monitoring her after the little girl receives routine shots and they pay her for that yeah so it's sponsored probably by a medical group anyway so that's with pop quizzy pop quizzy does it qualify for a roth as earned income
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
No.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Because she didn't earn it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Yeah.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
It's not an earned. She didn't work for it. She's three years old.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Here's my quizzy, baby.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Or throwing a parrot die.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay, so Susie, question from Kelly. Our accountant has determined my husband can contribute $45,000 to his SEP for the 2024 year. Would you still advise this? Part of me wonders if we were better off putting this in an investment account and not contributing to the SEP any longer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay. I have one from Jennifer. I like this one. Hi, Susie and KT. Love your show. I feel like you're my personal friends. We are. We are, Jennifer. We're your friends. Want to go have lunch? Well, she's in Raleigh, North Carolina. Forget it. Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
So her dad passed away in 2022, leaving her with an inherited IRA worth $500,000. That's the current value. It's a mix of individual stocks and good companies like NVIDIA, QQQ, and a dozen others. I've been taking only the minimum distribution these past two years, but all must be liquidated entirely within eight years.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
If I continue to pull the minimum each year, I'll have a huge lump sum to withdraw in 2032 when I'm 60 years old, which will be taxed as ordinary income. That is true. So she's saying she's smart. What should she do? No, she's smart. Would it be better to take out disbursements evenly over these next years or should I continue taking minimums?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay. This is from Marcy. She said, Hi, Suzy. I'm 62. At my new job of only six months, I do not pay into Social Security. Will my Social Security benefit decrease as a result of my last working years? being an employer that does not allow me to pay into Social Security.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
That's a wrap.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
There's only one thing we want you to remember, and it's this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Then money.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Kind of bouncing around. That's what I am.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
What is the resistance level? All right. All right. So are we ready?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Yeah, we just go up. We don't drop and we don't worry about resistance level.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
KT, you got good questions. I have a first a comment from Natalie and I love this.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay, but focus on this, everyone. This is from Natalie. She said, Hi, Suzy and KT. I played your Can I Afford It games on Suzy's YouTube channel. Wait, so many of you don't know this, but Suzy's official YouTube channel, which is youtube.com slash Suzy Orman.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Yes, now offers a really fun Can I Afford It game, which is part of the original Suzy Ormond show, which many of you watched for decades. In any event, I want you to go there and play this. Natalie writes, super fun, great jackets. She's mentioning Suzy's wardrobe. If you can, definitely make more of these, please. But obviously, you need to come up with a KT avatar.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
So I'm not going to tell you why she said that until you go and actually play Susie's Can I Afford It game.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay, first question here. It says, my mother has a 529 account for my son. My son is going to graduate in May. This is from Teresa. So let me explain. This is a little bit long, everybody. There's approximately $7,000 left in that 529 account. On one of your podcasts, you mentioned that 529 accounts can be moved into a Roth account.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
The 529 company confirmed this, but said the funds wouldn't be accessible without a penalty for 15 years. Ready? The IRS rules... This isn't a quizzy. Hold on. The IRS rules say that the Roth account has to be open for 15 years to do this, which isn't the same as what the 529 company said. Susie, my son has a Roth that's been open for a year. So what should we do with the leftover 529 money?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Then she said her mom is 81 years old.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Because I wish people, we need to video at least one of our podcasts. We're sitting here with our bathrobes on. It's late in the morning on the 2nd. And Susie's so animated that her hands fly everywhere when she's giving this advice. And she often just barely misses the mic. So I'm looking at her like trying to direct those hands flying everywhere. She gets very, very excited and very animated.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
This is from Andrea. She said, I love your podcast so much.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
My financial advisor is advising me to buy municipal bond ETFs and money market municipal bonds. Is this a safe way to reduce federal income taxes? Is it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
It took a long time to get to a no.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
It's not verbose at all. Verbose is your actions, but the amount of information, I would have taken the no right up front and be happy with it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Not necessarily.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Just give her the straight up no. No, don't do it. This is from Nisha. All right. This is a yes or no as well. Hi, Susie. I'm still working, but wondering if I should take a lump sum or monthly annuity when I retire next year. I was sure to take an annuity, but now my company's pension benefit has been sold and transferred to an insurance company as a group annuity.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Is it still safe to take an annuity over a lump sum in this case?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Can I Start a Roth for My 3 Year Old?
Okay, so the choice is the lump sum is half a million, 500,000, or the annuity is 3,300 per month with 50% survival benefit when I retire next year. That's from Nisha.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Wait, who's going to win?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Since last Super Bowl. They both love football so much. And it's like Kolo's number two sport. His number one is really soccer, you know, which is European football. But he loves this with Susie more than life itself. Yeah. And they both laugh because I'm a very newcomer to the sport of American football.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Here's my question. Suppose, because I'm following you until I get to month three. Where the price went to $90 a share. Yeah. So with my $1,000, I have 13.33 shares. And my question is... Not with your $1,000. No, no, no, no, no, no, no. Wait, wait, wait. Sorry. I had to... In order to have the value of the portfolio reach, let's say, $5,000... No, $3,000 because it's month three. All right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So month three. All right. Okay. Here's what I want to say. What if I'm in month like eight and I run out of money?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I just did a great explanation. Are you sure you want me to come to this class? Because I'm sitting here thinking, all right, I get month one, two, three, and even month four. Now, all of a sudden, I go to month five, and I'm still ahead of the game. But then I'm at six till the end of the year, and it's back at 120. Yeah. So I'm wondering why.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Why did I have to figure out all of this when I probably could have dollar-cost average? So you're saying, why not just dollar-cost average?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Done.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
So Susie, out of these three, your favorite now is value cost averaging. Yes. Let's go back to Super Bowl, everybody, where we began.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
We're going to do a lump sum win with Kansas City Chiefs, baby. All right, darling. So go Kansas City. Go Kansas City.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Is that right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Oh, my God. The goat. The rich goat.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
No one won three consecutive. This is the first time.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Let's make history tonight.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I still am a newcomer.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
No, it's not true.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I never grew up with football. So what? So you're the only person that I ever experienced football with. For 20 some odd years, now 24 years. Okay, so 20 Super Bowls. That's not a big deal. Okay, let's continue. Chiefs are going to win, everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Yeah, her little moji.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Do you like it?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
She tried to do one of me, but it didn't work.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I didn't like the way my hair looked.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I said, Susie, that looks like my face, but my hair doesn't look like that. She had this funny like hairstyle and it was gray. I said, I have white hair. I have silver white hair. I don't have gray hair. It never went gray. It just went from- Can you believe this, everybody?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
She's in bed. She just woke up and she said, KT, can you take a video of me? And I said, doing what? And she had on her bathrobe and she said, Just take a bit. Just put the camera on. So I turned it on and she did this whole 30 second commercial in bed in her pajamas with her book and her robe. It's hysterical. She does. You wear a nightshirt. Not often. You wear a nightshirt.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
You love your nightshirt. I know you love it. All right, so wait, let's go back to the Chiefs versus the Eagles. Yes. I want the Chiefs to win because I want to see history take place. Repeat?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Three-peat? It sounds like a repeat, but no one's done this. Three. Three times. Three consecutives. Yes. It's called three-peat.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
I didn't know who that guy was either. Okay. Anyway. So, Super Bowl Sunday today. I can't wait. And my biggest excitement is I get to watch the commercials, which is what I love around Super Bowl.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
Okay.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: The Benefits of Value Cost Averaging
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Oh, my goodness. On crowns, I always save over $1,000 for sure.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
And what about you, root canal? You just had a root canal.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
A lot of money. A lot.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
All right. Now, next question is from Hem. Hem. You're having a thing with names today. I am. I picked a lot of these because I saw the name Hem. I don't know who Hem is, if it's a man or a woman, but it's a Hem. Hi, KT. My question is, how can I put my house in my trust as I just purchased the must-have documents package?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Well, wait, tell them it's Sunday school and KT is here. Yes, but you needed to finish my line.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I co-own a house with my brother as joint tenants with the right of survivorship. Can I only put it in the trust if he passes first? Can't figure out how to do this within the trust package. Both of you are awesome. Keep it up for the people as we are super grateful. Super ham. What does HEM do? First of all, great that you got the must-have documents. All of us need them.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
No, just HEM.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
But if he did open a trust with the must-have documents that Hem is working with now, then they could do that, right?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yeah, great. All right. There you go, Hem. So next is from Marianne. Hi, Susie and KT. Just heard a suggestion, I love this one, that boomer candy ETFs may be a low-risk option for retirees to invest in as interest rates go down on bonds. Can you explain? Can you tell me what Boomer Candy is, Susie? Never heard of it before. Yes, you know what it is. No, I have no idea. She knows everybody.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
She knows everything, but I never heard of it. So when I picked this question, I wanted to know for myself, what the heck is a Boomer Candy and will I like it? It's a big lollipop. No, it is a boomer candy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
And you all wrote in and said, where is she? We miss her. Put KT back. It's not the same without her.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
No. A boomer candy.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Do you not know that? I know that. But I just was wondering, what the heck is Boomer Candy?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Boomers. Okay. Next question is from Giselle. She said, Hi, Susie. My company does not offer a Roth 401k, just a traditional 401k.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Is it better to do a traditional with a 4% match, or should I take that money and invest in my Vanguard Roth IRA? No, do the traditional. And get that 4%. But...
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So next is from Heather. She said, I'm retired. Hubby works part time. We need to pull funds monthly from our IRAs. Should I be selling each month or do a big chunk when the market is up? Good question.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Did you miss being here? Yes. I missed myself on Thursday, being on the Thursday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So the next question is from Alicia. Are you having fun on Sunday? I am. Do you all like me being here with her?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Alone.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
They make a lot of small talk.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
When I listen and I don't hear me, it's like, KT, where are you?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
That's my girl. All right. My next question is from Alicia. She said, hello, Susie and KT. My question is about investing and saving for retirement. My father recently passed and left me around $450,000. I have considered hiring a personal financial advisor at my bank. to invest $250,000. He charges 1%. Ready for this one, Susie?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
He said he would like to put $150,000 in a trans-America structured index annuity fund and invest the other $100,000 in various securities. I would like to understand this trans-America annuity fund better. Is it a good investment? Well, it's good for him. laughter All right, there you go. I'm sorry. I didn't want to impose on your answers.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
You don't need him.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
All right. That's a wrap for me, Susie.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I'm ready. Even on Sunday?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Okay. I get a quizzy Sunday.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So sorry.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
What would you do? So Susie, I did think about this. And I think what's important is what she said in the email. Absolutely discuss this with them now, with the son and the daughter now. Because I think the daughter could very well be hurt if mommy dies and she sees that 60% of her life insurance policy was left to the brother and only 40 to her instead of a 50-50.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So I think it's really important that they have the conversation first. And I do think, yes, she absolutely should give her son more. All right, so. Ding, ding, ding. Ding, ding, ding. Kind of. Kind of ding, ding, ding because it's very sensitive.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
What's that?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
an email kt what you got for me today okay my first question it's a little bit it's a little sad but it's important it's from juliana she said hello suzy i'd like some advice I've been married for over 40 years, but I'm getting a divorce. I'm separated at this time. The marriage was all about abuse, emotional, physical, verbal, and financial gaslighting.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I agree with that. I think that's really important.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Ding, ding, ding, ding, ding, ding, ding.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I was close to having a stroke and a heart attack, plus stress. Is making this move the right direction, Susie? Please reply."
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I want to add one more thing. You can, my love. 40 years, Juliana. You're at that age in your life where you deserve your final swan song to be the very best and to be happy and free and light. So just go for it. I agree 100% with what Susie said.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Okay, next question's from Steven. Hello, Susie. Thank you for your advice this morning. I've been dollar-cost averaging into Whirlpool and noticed it plummeted to about $109. Is this a buying opportunity or a time to hold back?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Okay, next is from Nikki. I picked this one, Susie, because I always think about this for us. It said, our condo association is voting on insurance. Should everyone have their own policy for the unit or not? Some believe they could cover any damage to another unit for less than the yearly premium. Do you have an opinion on this, Susie? I've carried my policy for 22 years and never used it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
If I canceled and decided to go back on, the premium would be much higher.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
4.25.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
And then Nikki said she understands both sides. So what do you recommend?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yeah, sometimes.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I confuse her all the time. What's the main thing you confuse me over? Oh, my goodness. When she tells me something, if she's not really clear with that explanation, then I get very confused.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Oh, anything. Anything.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
All right, so wait.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Because we always talk about this for ourselves.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Unbelievably expensive.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
In South Florida. In South Florida. Hurricane land.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So what should Nikki do?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
This is Ramona, but wait, Ramona wrote Southern Gal. That was her email, Southern Gal. So this is Ramona. Hi, Susie. I'm single, 61 years of age, and recently retired from 34 years in education. Let's congratulate her. Congratulations. We love teachers.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I have learned within the last few days that it may be in my best interest to move my 403B into a Roth IRA because of the future taxes I will have to pay on the 403B. I'll be receiving my first pension check February 1st. What's the best time for me to make the move so that I will pay the least amount of taxes on the 403B? She's very confused in terms of all these tax brackets.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
So what's your advice, Susie?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Okay, my next question is from Brenda, and this is a category you and I both love, the dentist. I don't like my dentist. Actually, I love my new dentist. You do love your new dentist. I actually love my old dentist, too. You just like your dentist. We both do.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
I love to get cleaning. What in the world do you love going for? Cleaning. Cleaning. I always feel great when I leave and my teeth are real clean. Okay, so the question is, Susie, what is the best dental insurance for me that pays more for implants, for crowns, and for most procedures? And is there a dental insurance that will let me cover my 10-year-old granddaughter that pays for braces?
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
And then she wrote without waiting a year. So I don't understand why you have to wait a year.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Right.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Yeah, we didn't know about it.
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do The Trump Tariffs Mean It’s Time to Buy or Sell?
Many times.